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					                                             1
Power Grid Corporation of India Ltd.

              Presentation
                   to

              Shri Shashi Shekhar
                         Joint Secretary,
                        Minister of Power


                             June,27, 2003
                                New Delhi
 OBJECTIVES OF POWERGRID
The Corporation has set following objectives in line with its
 Mission and its status as “Central Transmission Utility”:

- Undertake transmission of energy through Inter-State
  transmission system.
- Discharge all functions of planning and coordination
  relating to Inter-State transmission system
- Exercise supervision and control over the Inter-State
  transmission system.
- Efficient Operation and Maintenance of Transmission
  systems.
- Establish / augment and operate all Regional Load Despatch
  Centres and Communication facilities.

                                                     Contd/-
OBJECTIVES OF POWERGRID
                                                              Contd/-

- To facilitate private sector participation in transmission system
   through Independent Private Transmission Company / Joint
   Ventures.
- To assist various SEBs and other utilities in upgradation of
   skills & sharing of expertise by organising regular conferences,
   tailor-made training workshops directed towards            specific
   technological and O&M areas and extending               laboratory
   facilities for testing purposes etc.
 - Restoring power in quickest possible time in the event of any
   natural disasters like super cyclone, flood etc. through
   deployment of Emergency Restoration Systems.
 - To provide consultancy services at national and international
   level in transmission sector based on the in- house      expertise
   developed by the organisation.
 - To participate in long distance trunk telecommunication
   business ventures.
    ORGANISATIONAL
STRUCTURE OF POWERGRID
Corporate Centre
RHQ (7 No.)
Lines/ Sub-Stations

NLDC
RLDC(5 No.)
SLDC
RTU
POWERGRID Today…
Incorporated in October, 1989.
Commenced         commercial     operation    from
  April 1, 1992.
Notified as Central Transmission Utility in Dec’ 98.
One of the largest and best managed transmission
 utility in the World with EHV network of over
 46,000 ckm, wheeling more than 200 billion units
 (worth Rs. 40,000 Crore) per year - 40% of total
 generated power in the country.
Sustained high system availability - about 99%.
Consistently profit making.
                                                            6


POWERGRID Today…
 Rated “EXCELLENT” against MOU with MOP since
  1993-94.
 Received “The Prime Minister’s MOU Award” consecutively
  for 3 years since 1998-99.
 First ISO 9001 company in Indian Power Sector.
 Rated at the highest bracket by domestic credit rating
  agencies.
 During    the   FY     2002-2003,     POWERGRID
  commissioned projects worth Rs 5,300 Crore. These
  projects were completed at a cost lesser by Rs 820
  Crore than the GoI approved cost and ahead of
  schedule.
POWERGRID Growth                             Profile
                              1992-93      2002-03 Growth(%)
Physical Performance
 No. of Sub-stations               39           79        102
 MVA capacity                  13,200       44,836       240
 Circuit kms                   23,000       46,245       101
 Inter-regional transfer          500        8,000      1500
 capacity (MW)

Financial Performance (Rs Cr.)
 Net profit                      236          650       175
 Turnover                        634        2,419        282

No. of employees               5,725      6,339*         11
 * Excluding 586 employees transferred from CEA (with RLDCs) and
 from NTPC (with HVDC)
LEGAL FRAMEWORKS IN 1910/1948 ACTS
  The Electricity Laws (Amendment) Act, 1998
  provided for:
      Transmission as a distinct activity.
      A new concept of Central Transmission
      Utility (CTU) at the National level / State
      Transmission Utilities (STUs) at the State
      level for ensuring centralized planning, co-
      ordination and control.
  CTU / STUs kept under Govt. ownership.
  Granted “Apex Body” status to RLDCs.
LEGAL FRAMEWORKS IN 1910/1948 ACTS
  RLDCs/SLDCs to be operated by CTU/STUs
  respectively, unless specified otherwise by
  Central Government.
  CTU/STUs to be actively involved in private
  investment in transmission.
  Appropriate Commissions to issue the
  Transmission License to private parties upon the
  approval by CTU/STUs.
  Govt. used to give directions to POWERGRID to
  establish, operate & maintain Transmission
  System under Section 18A of 1948 Act.
PROVISIONS IN 2003 ACT & ITS IMPACT
 Separate Companies for NLDC, RLDCs and
  SLDCs.
 Roles, responsibilities and functions of RLDCs /
  RPCs.
 Responsibility of short term planning of
  transmission system.
 Functions of CTU and its privatisation.
 Role of CTU in Private Investment in
  transmission.
 Usage of transmission assets for telecom
  purposes.
 Open access to transmission system
 SEPARATE COMPANIES FOR LDC FUNCTIONS.

 The Act, under clauses 26(3), 27(2) and
  31(2), envisages formation of separate
  Government companies for the operation
  of NLDC, RLDCs and SLDCs.

 In line with the worldwide trends, the main
  transmission       agency       should    be
  responsible      for    system     operation
  functions on permanent basis, i.e., CTU
  shall operate NLDC and RLDCs, while
  STUs shall operate respective SLDCs, in
  line with the current practice.
ROLES AND RESPONSIBILITIES OF RLDCs VS RPCs
The Act under clause 2(55) and clause 28(1)
 defines the roles of REBs/RPCs as a facilitator for
 integrated operation of power system, and that of
 RLDCs as an agency responsible for integrated
 operation of power system in that region. The Act
 has only changed the name of the body i.e. from
 REB to RPC.

Roles and responsibilities of RLDCs / RPCs need
 to be clearly demarcated by specifying their
 respective functions.
SHORT TERM PLANNING OF TRANSMISSION SYSTEM
  As per the Act under clause 73(a), CEA has been
   mandated to formulate short term & perspective
   plan for power development in the country.


  In line with the statutory function of CTU for
   planning and coordination, the short term
   planning of inter-state transmission system
   should have been entirely left to CTU under the
   overall long term Electricity Plan developed by
   CEA.
         PRIVATIZATION OF CTU
 The Act under clause 38(1) provide for a
  Government Company to be CTU. However, the
  Act under third para of clause 38(1), provides
  further that the Central Government may
  transfer, and vest any property, etc., of CTU, to
  a company or companies to be incorporated
  under the Companies Act, 1956 to function as a
  transmission licensee, through a transfer
  scheme.
 This provision militates against the very
  concept of having a Government-owned CTU.
ROLE OF CTU IN PRIVATE INVESTMENT.
   The 1910 Act under clause 27C(2) provides for
    licensee to work under direction, supervision
    and control of CTU.

   The 2003 Act under clauses 12 & 14 has placed
    CTU at par with other Transmission Licensees.

   CTU, being a statutory authority, should not
    be referred to as a Transmission Licensee. Its
    role should have remained as envisaged in the
    earlier Acts.
ROLE OF CTU IN PRIVATE INVESTMENT..
   The 1910 Act under clause 27C(4) states that no
     license application shall be entertained by CERC
     unless the applicant has obtained the approval of CTU.
     The 2003 Act under clause 15(3) states that any person
     can apply directly to CERC for the License, with a copy
     to CTU for recommendations. However, such
     recommendations of CTU shall not be binding on
     CERC.

   CTU, being a statutory authority, no application for a
     license should be entertained by CERC, unless the
     same is approved by CTU, in line with the existing
     provisions.
ADDITIONAL ISSUES IN 2003 ACT
   The Act under clause 41 empowers CERC to
    look into the question of using transmission
    assets for any other purposes where as the
    existing Acts are silent on this issue.

   Duties of generating companies include
    dedicated transmission lines also. Captive
    generating plants may also set up dedicated
    transmission lines.

   Directions corresponding to 18A of 1948 Act
    needed.
ADDITIONAL ISSUES IN 2003 ACT
CTU & RLDC not to engage in generation and
 trading of electricity.

CTU to provide non-discriminatory open access
 to its transmission system for use by any
 licensee, generating company or consumer
 (clause 38-2-d).

Guidelines for determining tariff through a
 process of bidding shall be issued by the
 Central Government (clause 63).
FUNCTIONS OF CTU
Undertake transmission of electricity through
 inter- state transmission system.
Discharge all functions of planning and co-
 ordination relating to inter state transmission
 system.
Ensure development of an efficient,
 coordinated & economical inter state
 transmission system.
Provide non-discriminatory open access to its
 transmission system
         FUNCTIONS OF CTU
POWERGRID was anyway performing
 almost all the functions, which the earlier
 amended statute & the Electricity Act 2003
 bestowed upon the CTU. Notifying
 POWERGRID as CTU is thus a natural and
 logical step.
Objectives of POWERGRID and the
 Statutory Role and Responsibilities of CTU
 go hand in hand and they are so much inter-
 mingled that they can not be separated.
 ACTION PLAN FOR 2003-04
                                              (In Rs. Crores)
Budget Estimate (2003 - 04)      : 2750
Scheme-wise break-up:                    BE
                                       (2003-04)
Ongoing Schemes                   -   2028.73
New Schemes                       -     563.74
Completed Schemes                 -     13.88
Telecom                           -    143.65
                                      ---------
                  TOTAL :                 2750

 Utilisation of Budget under the new schemes (Rs. 563.74
 Crore) would largely depend on availability of investment
 approval of major projects like Sipat-I, Sipat-II, and Tala
 Transmission projects (about Rs. 343 Crore) - GoI’s
 approval is awaited.
 ACTION PLAN FOR 2003-04
Funding Plan for BE 2003-04
 Internal Resources           578
 Development Surcharge        250
 Bonds/Domestic Loans         1127
 Foreign Borrowings           715
 IEBR                         2670
 Net Budgetary Support         80
 Total                        2750
Action Plan for

 next 10 years
                                                          24

POWERGRID Perspective                     Plan…
 Addition of 60,000 ckm of Transmission Network
  with an investment of Rs. 71,000 crores to
  evacuate additional 1,00,000 MW by 2011-12
 Mobilising adequate financial resources (including
  private participation) for the implementation of the
  plan, while maintaining sound financial health of
  the company
       POWERGRID’s own investment Rs. 50,000 Crore and
        balance Rs. 21,000 Crore from Private Sector
 Creation of National Grid and enhancing inter-
  regional transfer capacity from the existing level
  of 8,000 MW to 30,000 MW by 2012
POWERGRID Perspective Plan…
Investment Program
                                               Rs/Crs.

                           X Plan    XI Plan     Total

Private Sector               9,710    11,185     20,895
participation
POWERGRID’s                 21,370    28,258     49,628
Outlay
Total Central Sector        31,080    39,443     70,523
(Transmission + Telecom)
POWERGRID Perspective                  Plan…
Estimate of Funds to be Mobilised

A. Identified Funds :   X Plan   XI Plan   Total
Internal Resources      2,938    5,081     8,019
Development Surcharge   1,216    1,867     3,083
Net Budgetary Support    1,000     0        1,000
Committed ECB            5,500              5,500
Domestic Fund tied up      810               810
Total (A)               11,464   6,948     18,412
B. Funds to be           9,906   21,310    31,216
Mobilised:
Total(A+B)              21,370   28,258    49,628
Investment and Funding Strategy
Future Funding Option Assumed

               20%


                           Multilateral
                     10%   Suppliers' Credit
                           Domestic

    70%
Diversification

     into

   Telecom
POWERGRID’s DIVERSIFICATION INTO TELECOM
 POWERGRID diversifying into Telecom to
 utilize spare telecommunication capacity of
 ULDC schemes and maximize return on its
 transmission infrastructure
   Through an incremental investment
   In a limited manner and without affecting the
    core business
 Foray into telecom recommended by reputed
 international consultants viz. IVO Power
 Engineering,     Finland    along    with
 PricewaterhouseCoopers, UK
POWERGRID’s DIVERSIFICATION INTO TELECOM
 POWERGRID has implemented /is implementing
  ULDC projects for Real Time Power System
  Management in all five Regions

Dedicated Telecom links under ULDC
 Schemes
  Region      Status/Completion   OFC (Km)
 Northern        Completed           830
 Southern        Completed          613
 North Eastern   Completed           961
 Eastern         By Mar’ 03          887
 Western         By Aug’ 03        1,431
 NLDC            By 2005             941
            Total                 5,663
POWERGRID’s DIVERSIFICATION INTO TELECOM

Fiber Optic Backbone Network of 14,000 Km,
  which will interconnect 60 major cities
 OFC under ULDC/ LDC schemes 5,663 Km
 Incremental Network required 8,437 Km
 Total project cost            Rs. 934 cr.
Investment approval accorded by GoI in
 March 2002
Target Completion by 2004-05
POWERGRID’s DIVERSIFICATION INTO TELECOM

Obtained IP-II license in January 2001


Delhi-Mumbai Link was prioritised and
 commissioned in a record time of 9
 months


Links under commercial operation
  Delhi-Chandigarh;
  Delhi-Lucknow-Mumbai;
  Delhi- Jaipur;
  Facilitating Distribution Sector
         Reforms (APDRP)
 Appointed Advisor-cum-Consultant : 105 circles
  Direct Advisor-cum-Consultant : 37 circles (15 States)
   Co-ordinator     : 14circles in 5 States
                    (assigned to NPC, WAPCOS,
                            ERDA).
                    54 circles (developed by SEBs)
  Ist Phase is over and cumulative projects worth
  Rs16,000 Crore already approved in the country.

  Projects worth Rs 5587 Crore approved, where
  POWERGRID was associated

  In addition APDRP program undertaken on turnkey and
  bilateral basis in three States namely Assam, Goa,
  Bihar.
Perspective Plan
  - Development of
National Power Grid
 Need of National Grid
 Uneven disposition of energy resources
      Major Hydro resources in NER & NR
      Coal reserves mostly in Jharkhand / Orissa / West Bengal
       •   Cost of power transmission lower than cost of fuel transportation
       •   Transmission is more environment friendly than load centre based
           generation
Growth disparity
    ER surplus (Load did not grow as expected)
    Other regions deficit (Demand outstripped Gen. Cap. addition)
 Optimization of generation capacity addition
    Utilising time and seasonal diversity
    Spinning reserve optimisation
    Utilisation of operational surpluses
 Flexibility of adding IPPs along the National Grid

Conservation of Right-of-Way -- especially in areas with scarcity of
ROW viz. area near hydro projects, chicken - neck area, forest area,
towns etc.
Development of National Grid :
Strategy
 Development in a phased manner – commensurate with
  generation / load growth.
 Flexible Plan to accommodate change in load-generation
  pattern.
 Detailed studies carried out in consultation with CEA to
  evolve system elements
 Existing ER surplus and operational surpluses in the time
  frame of 2006 - 07 are to be transmitted over National Grid
 Uncertainty in generation capacity addition can be fine
  tuned from time to time including impact of time & cost
  overruns, if any.
 National Load Dispatch Center envisaged by 2005 - 06 for
  coordinated operation of National Grid
 POWERGRID Perspective              Plan …
National Grid, Phase-I
Interconnection of Regional Grids through HVDC
 Back-to-Back and AC links
   to take care of widely varied operational
    parameters
Development of phase-I of National Grid completed
 when Sasaram HVDC B/B Link between ER and NR
 was commissioned in Sept. 2002.
Cumulative Inter-Regional Transfer Capacity
 estableshed at the end of Phase-I : 5,000 MW
 POWERGRID Perspective                    Plan …
National Grid, Phase-II (by 2007)

Strategy:
 High capacity Inter-Regional “Transmission Highways”
  envisaged along with major generation projects
 Hybrid HVAC and HVDC interconnection planned
 Development of Phase-II of National Grid has already
  commenced - 3000 MW capacity added
    2000 MW HVDC bi-pole between Talcher-Kolar (Asia’s
     largest HVDC Bi-pole)
    1000 MW 400 kV AC link between Rourkela and Raipur
     (Facilitate Interconnection of ER/WR & NER
 Cumulative Inter-regional transfer capacity at the end of
  2002-03 – 8000 MW
 By the end of Phase-II
 Cumulative Inter-regional Capacity - 23,500 MW
 POWERGRID Perspective                Plan …
National Grid, Phase-III(by 2012)

Strengthening of inter-regional links to have a ring
 of 765 kV lines, inter-connecting Northern, Western
 and Eastern Regions synchronously


ER inter-connection with SR to be strengthened
 through HVDC bi-pole links (Asynchronous link)

After Phase-III
  Cumulative Inter-regional Capacity - 30,000 MW
Private Sector

 Participation
Private Sector Participation
 Two routes identified
    Joint Venture (JV) route
    Independent Private Transmission Company
     (IPTC) route
JV route
    Major transmission lines associated with
     Tala HEP in Bhutan, estimated to cost about
     Rs. 1,100 Crore,
    M/s Tata Power selected as JV partner
    Shareholders     Agreement      initialled at
     management level
    IA/ TSA initialled at working level
    PIB    approval obtained in Dec’02. CCEA
     awaited (investment approval + approval of
     creating a JV company)
Private Sector Participation

 IPTC Route
  Identified Project : 400 KV D/C Bina-Nagda-
   Dehgam Transmission line
  Estimated cost :       Rs. 450 crore.
  Consortium of TNB & Kalpataru, the only
   bidder
  Tariff quoted is 77% higher compared to if the
   project to be undertaken by POWERGRID
  Petition submitted by POWERGRID to CERC
   seeking direction
  Hearing held on 25 June’03, order awaited
Assistance

 Sought
LIQUIDATION OF OUSTANDING DUES
 Payable Outstanding as on May, 2003 -      Rs.429 Crore
  Includes
       Interest                Rs. 171 Crore

 Major Defaulters
      BIHAR                    Rs.   102 crore
      DVB                      Rs.   283 Crore
      MPEB                     Rs.    67 Crore
      Manipur                  Rs.    51 Crore
      Maharashtra              Rs.    17 Crore
      Arunachal                Rs.    10 Crore
      Tripura                  Rs.     9 Crore

 Madhya Pradesh, Maharashtra, Orissa, Delhi, Tripura,
  Arunachal Pradesh, Mizoram and Manipur have not signed
  the TPA for POWERGRID.
    BUDGETARY SUPPORT TO POWERGRID
               IN X PLAN
 POWERGRID sought a budgetary support of Rs. 4,907
  crore for an investment programme of Rs. 30,143 crore
  (considering Debt:Equity ratio of 70:30)
 Planning Commission scaled down the investment to Rs.
  21,370 crore with Net budgetary support to Rs. 1,000 crore.
  (Debt:Equity ratio of 80:20)
 Taking up the future incremental investment in the limiting
  debt-equity norm of 80:20 would create problems for the
  Corporation for fund mobilization
 Further equity support of Rs 1257 Crore to maintain D:E
  ratio as 70:30.
 NBS to be made available in the form of Equity and not as
  Grant.
                                                  Contd…
       POWERGRID’S PROPOSAL FOR
        COMPENSATION FOR NER-TS
 POWERGRID’s losses due to pegging of the tariff @
  35 paise/unit as per Unified Common Pool
  Transmission Tariff (UCPTT)–Rs. 1012 cr. till 2006-07
 To cover this loss to the extent of only 50%, MoP
  recommended:
    One time upfront grant of Rs. 385 crores and
    Equated annual installment of Rs. 33.46 cr. during Xth
     plan period from 2002-03 to 2006-07 (or additional
     upfront grant of Rs. 120.60 cr.)
 The proposal is being considered by Planning
  Commission.
 Some clarification on existing assets was sought by
  Planning Commission which has since been
  furnished.
        MEGA POWER PROJECT STATUS TO
              TRANS. PROJECTS
Accordance of     Mega Power Project status for the
transmission System associated with Mega Generation
Project.
  Sipat project of NTPC already granted this status.
  Associated  transmission project to be granted Mega Power
   Project Status. It meets the criteria which are comparable to
   those specified for Mega Power Projects:-
       System forms part of National grid
       Catering power needs of more than one state
       Introduction of 800 kV state-of-the-art technology
       Involvement of huge investment
       Transmission of large block of power thus reducing ROW
        requirements
       Economy of scale on account of lower T&D losses
       To keep the tariff low for financially poor states
            INVESTMENT APPROVAL
 CCEA may approve a basket of projects, while
  individual project approval may be delegated to
  MoP.
 Pre-PIB limits to be raised from Rs. 500 Crore to
  Rs. 1500 Crore.
 PIB Memo may be circulated while circulating the
  FR itself.
 Investment approval for projects involving cost up
  to Rs. 1000 cr. may be delegated to Board of
  Directors of POWERGRID.
               ISSUES RELATED TO CERC
 Review of depreciation norms in transmission tariff
      CERC through their notification reduced rate of depreciation from
       6.12% to 2.91%, which is adversely affecting the financial position
       of the company
 Payment of FERV on pass through basis
      CERC insists that FERV be capitalized and recovered as tariff by
       spreading it over the years.
      This is putting extra financial burden on POWERGRID due to
       mismatch in inflow and outflow, which will have direct impact on
       internal resources and capability to add capacity.
 Fixation of availability of transmission system at 95%
  instead of 98%
      CEA has recommended 98% availability of transmission system
       to ensure grid stability and this norm should not be used for
       recovery of transmission charges.
                                                                 Contd…
          ISSUES RELATED TO CERC
                                            Contd…
 Utilisation of Development Surcharge
 CERC has not notified Dev. Surcharge in revised
 tariff notification for Rihand-Dadri Line (1st case)
 Applicability of Depreciation Adversely affects the
 Financial ratios because of no RoE on Development
 Surcharge
 Implication of Income Tax on Development
 Surcharge
 Its utilisation on National Level may be allowed in
 stead of Regional level
                  OTHER ISSUES
The funding of Chandrapur HVDC B/B project
 includes ODA grant of about Rs 322 Crs
   CERC, through its Tariff Order, has not allowed
    the ROE and Depreciation on Grant portion.
   As POWERGRID has to maintain the asset and
    keep provision for its wear and tear, at least
    tariff components like Depreciation, O&M
    expenses and Interest on Working Capital may
    be allowed.
GOI may notify the Tariff Policy at the earliest
               OTHER ISSUES

 Penal Interest @24% on cash equivalent of
  Deemed Export Benefits (Rs. 265 Crore)
  being refunded for Talcher-II project may
  be waived off by GOI to reduce the project
  cost.
 The proposal for declaring POWERGRID
  as “Navratna”, under consideration of
  DPE, may be expedited.
Thank You
FORMATION OF POWERGRID
Prior to formation of POWERGRID, various
Central Sector Generating Companies e.g.
NTPC, NHPC, NLC, THDC, NEEPCO,
NJPC, NPC etc. were responsible for
development of generation facility and the
associated transmission system to deliver the
power to the beneficiaries at their sub-
stations.
As the capital outlay of generating plants was
much more in comparison to associated
transmission system, all the generating
companies were giving more importance to
generation facilities which led to bottling of
power in some pockets.
FORMATION OF POWERGRID
These Generating companies were making
efforts towards establishing generation
facilities and associated evacuation systems,
and no efforts were made by them to
strengthen/augment Regional Grids/National
Grid
The transmission system not linked with the
generation facilities were getting totally
neglected
To surmount these problems, Central
Government in 1989 took a decision to
establish POWERGRID for development of
Regional/ National Grids
 FORMATION OF POWERGRID
MANDATE
 Build, Operate & Maintain EHV AC and
 HVDC Transmission Systems including Load
 Dispatch Facilities under Central Sector.

MISSION
 Establishment and operation of Regional
 and National Power Grids to facilitate
 transfer of power within and across the
 regions with Reliability, Security and
 Economy, on sound commercial principles.
   Future Financial Outlook

                                                                     54325
                                         31953
                                                                             24645
           10418 7300                            14587   8559 3125
2419 650                     4818 1420



      Present                      2006-07                     2011-12

                    Turnover PAT Capital Employed Net Worth
OPERATIONAL PERFORMANCE
Sustained high system availability - over 98%
for last 10 years despite       limited / no
redundancy in the network, through adoption
of latest techniques including:
   Hot Line Maintenance
   Emergency Restoration System
   Regular Preventive Maintenance
      Thermo-vision  Scanning
      Condition Monitoring of Equipment

      Gas & Insulating Oils Testing Facilities.

      Stringent Quality Control Measures
HOT LINE MAINTENANCE
Technological

 Excellence
Technological Excellence
 Application of Series Compensation to improve
  power transfer capacity (Kishenpur-Pampore,
  Kanpur-Ballabgarh, Panki-Muradnagar, Rourkela-
  Raipur etc.)
 Upgrading of Lower Voltage Lines to Higher
  Voltage - 66 to 132 KV, 132 KV to 220 & 400 KV,
  220 KV to 400 KV, 400 kV to 800 kV
 Uprating of transmission lines by enhancing
  Conductor Temperature Limit - From 75°C to 85°
  C resulting in approx 30% increase in power
  capacity with approx. 1% increase in cost of line
 Composite Long Rod Insulators for better
  performance
Technological Excellence
 Flexible AC transmission systems
 Multi Conductor      Bundle,       Multi     Circuit
  Transmission Lines
 Controlled shunt reactors        (developed       in
  association with BHEL)
 Sub-station automation
 Compact Air Insulated Sub-stations / Gas
  Insulated Sub-stations
 Inhouse standardisation     of      towers      and
  foundation design
TOWARDS GREEN ENVIRONMENT
POWERGRID developed Environmental and Social
 Policy & Procedures (ESPP)
   First PSU to develop such policy

   The  key principles of ESPP are Avoidance,
    Minimisation and Mitigation
   Policy developed through detailed interaction
    with the Public, NGOs, Project Affected
    Persons, Financial Institutions, Government
    agencies, etc.
   Being  strictly adhered to in all transmission
    projects
TOWARDS GREEN ENVIRONMENT
TOWARDS GREEN ENVIRONMENT
DISASTER MANAGEMENT
 Evolved most effective Disaster Management System to
  minimize the impact of natural calamities like floods,
  cyclones, Earthquake etc.
 Quick restoration of power supply through Emergency
  Restoration System
    Gujarat cyclone in 1998, restored within a week
    Orissa Cyclone in October, 1999, restored within 11
     days
    Gujarat earthquake in January, 2001
       Restored power supply within one week
       Reconstructed 10 damaged Sub-stations within a
        record time of 3 months, dedicated to the Nation by
        the Hon’ble Prime Minister
Erection of ERS by Helicopter
Accolades
Comments of the World Bank
The availability of POWERGRID system is high
(over 98%); System expansion is progressing
at a fast pace and POWERGRID’s largest
ongoing projects are being implemented in a
highly satisfactory manner
                           -The World Bank, Oct. 96
POWERGRID’s institutional development and
growth has been impressive. It has
amalgamated staff into a surprisingly
homogenous team
                               - The World Bank, Oct. 96
Engineering Specifications, Contract and
Project Management, Contract documents has
been of excellent quality
   - International Consultants to The World Bank, Nov. 96
  Comments of the World Bank
“Our mid-term review highlighted the
impressive      performance growth      of
POWERGRID since the approval of PSDP-I in
March, 1993 and then had to express the
Bank’s deepening concern about the loss of
direction since mid-1995.
The World Bank mission was very pleased
and impressed to discover the start of a
turnaround. The backlog at the Board has
been cleared and project implementation is
being accelerated. Staff morale is improving
and POWERGRID is recovering the sense of
urgency and direction that used to
characterize its efforts to improve”.
                           - The World Bank, Dec 1996
  Comments of the World Bank
 Evolution of innovative Dispute Resolution Panel
  proved to be very useful and disputes in the single
  problem project have been resolved - We greatly
  appreciate the reactivation of 800 kV Kishenpur-
  Moga Project
                                  -The World Bank, Nov. 98
 Some of the POWERGRID’s largest on-going
  projects are funded under World Bank loans and are
  being implemented in a highly satisfactory manner.
  Projects are on schedule and reflect POWERGRID’s
  competence in inter-national competitive bidding
                                 -The World Bank, Nov. 98
 Although there is frustration on the part of Cobra, a
  review of the issues does not indicate unfairness or
  mismanagement on the part of POWERGRID. This
  contract is properly managed by POWERGRID with
  no evidence of unfairness.
              - International Consultants to The World Bank
          Comments : Others
 POWERGRID          represents    an     exciting
  mechanism to centralise Indian Power
  structure on a national basis. ADB welcomes
  POWERGRID and look forward to working
  with it in the future. Imagination is needed in
  planning POWERGRID’s future and its
  management appears to be truly abreast of
  them.
                     - Asian Development Bank, Feb. 2000
 Here is an organization that meets its
  commitments and values time. I wish there
  are more organizations with a similar
  outlook
       - Dr. Shankar Sen, Former Vice Chancellor, Jadhavpur
       University & The former Power Minister, WB Govt.
POWERGRID Perspective         Plan …
Future Investment Programme X and XI Plan
                                    (Rs Crore)


 Central Sector Investment         70,523
 Private Sector Investment         20,895

 POWERGRID Investment              49,628

   Funding Plan
       Internal Resources           8,019
       Dev. Surcharge               3,083
       Multilateral/ECB            14,607
       Bonds/Domestic loans/NBS    23,919

        Total                      49,628
         POWERGRID - The
  Transmission Organization with
Incorporated in 1989, mandated
Establishment, Operation & Maintenance of
Regional & National Power Grids including Load
Dispatch Centers
Started operation on management basis w.e.f.
August, 1991 for the assets owned by NTPC/
NHPC/ NEEPCO etc
Tr. Assets of above companies transferred
alongwith manpower as per Presidential Ordinance
& commencement of commercial operation since
1992-93.
Notified as Central Transmission Utility, the statutory
body in December 1998 through Amendment of
Electricity (supply) Act, 1948, to discharge the
following    functions   related  with      inter-state
transmission
  Undertake Inter-state Transmission of energy
  Planning and co-ordination for inter-state trans.
       BUDGET UTILISATION
                                             (In Rs. Crores)
Budget Estimate (2002 - 03)         : 3352
Revised Estimate (2002- 03)        : 2687
                            RE                 Actual
                            (2002-03)          (2002-2003)
On Going &
Completed Schemes -           2408              2445
New Schemes       -            151*                50
Telecom           -          128*                  66
                            ---------          -----------
             TOTAL :        2687                 2561
* Shortfall for want of Investment Approval for Tala & Sipat
  transmission projects and delayed approval of Telecom
  Project & Raipur-Chandrapur Trans. Sys.. BPTA for Raipur-
  Chandrapur is yet to be signed as SR beneficiaries went
  back on their commitments.
 OBJECTIVES OF POWERGRID
The Corporation has set following objectives in line with its
 Mission and its status as “Central Transmission Utility”:

- Undertake transmission of energy through Inter-State
  transmission system.
- Discharge all functions of planning and coordination relating
  to Inter-State transmission system with –
      (i)    State Transmission Utilities;
     (ii)    Central Government;
     (iii)   State Governments;
     (iv)    Generating companies;
     (v)      Regional Electricity Boards;
     (vi)     Authority;
     (vii)   Licensees;
     (viii) Transmission licensees;
     (ix)    Any other person notified by the Central
             Government in this behalf.                Contd/-
    MAJOR ON-GOING PROJECTS
                            Cost in Rs. Cr. Ant. Commn.
                             Appd. Ant.
•   Meramundali - Jeypore      167 143            May’03
•   Series Compensation on       26    26         Aug’03
    Panki Muradnagar
•   Tehri Trans. System        702   702 Line I - Sep’03 *
                                            Line II- Dec’03 *
•   ULDC Scheme in NER         264   264        Jun’03
•   Bihar Grid Strengthening 163     163       Jan’04
•   Madurai – Trivandrum       196   196       Mar’04
•   Kahalgaon–B’shariff (II Ckt) 136 136       Apr’04
•   Tala-Siliguri              232   232       Dec’04**
•   ULDC Scheme in ER          397    397      Dec’04

*  Clearance regarding Rajaji National Park obtained from Supreme
   Court in Oct’02.
** Matching with Tala HEP

                                Contd…
MAJOR ON-GOING PROJECTS
                                             Contd…
                            Cost in Rs. Cr. Ant. Commn.
                       Appd. Ant.
• Aug. of Gajuwaka B/B
  Project (Gajuwaka-II)         769   769       Jan’05
• Dhauliganga Trans. System     151    151      Jan’05
• System strengthening Scheme 110     110       Jan’05
  in Western Region
• Ramagundam- III               390    390       Aug’05
• Tarapur 3 & 4 Trans. System   237    237       Sep’05
• Rihand-II Trans. System      1044   1044       Aug’05
• ULDC – WR                     262   235        Mar’06
• Dulhasti Combined Tr. System 567    567 Jul’06
Investment and Funding Strategy
Future Investment Requirements
                                                      Rs/Crs
                                   X Plan   XI Plan   Total
A. Transmission                    28,840   39,183    68,023
   Generation Linked Projects      12,340     9,219   19,634
   Grid Strengthening               3,192     5,420     3,192
   Projects
   Inter-regional /Inter Country   12,005   22,525    41,875
   Links
   ULDC Projects                    1,016              1,016
   Investments in JV                  204                204
   Others                              83     2,019    2,102
B. Telecom                          2,240       260    2,500
   Base Network                     1,004              1,004
   Equity in NLDO & JV              1,236      260     1,496
Total (A+B)                        31,080   39,443    70,523
Investment and Funding Strategy

Alternative Options (If Pvt. Investment
 fails)
 If the Private Participation fails POWERGRID
 funding will increase to that tune.
 Total POWERGRID investment up to Rs 70,523 Crs
 To achieve Debt : Equity Ratio of 80:20 additional
 equity support of Rs 2,100 crs from external sources
 is necessary
 Additional equity requirement may be provided by
 GOI as NBS. So total NBS could become Rs 3,100
 Crs.
Investment and Funding Strategy
Improved Revenue Realization
 Revenue Realization may be improved to
 100% (as per Ahluwalia Committee
 recommendations)    Internal     resource
 generated will be Rs 16,302 Crs and
 Development Surcharge will be at Rs 3,627
 Crs as estimated.

 In such a case External equity injection of Rs
 2,100 Crs will not be required.

 The Equity contribution 30% of the required
 investment (including the Rs 1000 Crs NBS).
Investment and Funding Strategy
Cess/Infrastructure Status/Diversification/IPO
 Creation of National Power Grid Fund
 through imposition of Cess on consumers in
 the Power Sector or Through additional
 Taxation through Fiscal Policy
  According Mega Power benefits to
 Transmission will reduce the cost of the
 projects
 Leveraging Transmission Investment by
 surplus from Diversification
 By tapping the Domestic Capital Markets by
 means of an Initial Public Offer (IPO).
Investment and Funding Strategy
Funding Scenario If Pvt. Investment Fails

POWERGRID FUNDING             X & XI Plan
Internal Resources                    7039
Development Surcharge                 3966
Bonds/Domestic Loans                 39493
Foreign Borrowings                   16925
IEBR                                 67423
Net Budgetary Support                 1000
Equity From External Source           2100
Total                                70523
ACTION PLAN FOR 2003-04
 Projects to be Commissioned in 2003-04
 1.   Series Compensation on Panki-Muradnagar
 2.   Meerut-Stabdinagar
 3.   LILO Of Panki-Naubasta (Feroz Gandhi Unchahar TL-II)
 4.   Mehramundali-Jeypore
 5.   ICT at Biharshariff (Bihar Grid Strengthening)
 6.   Ranganadi-Ziro TL
 7.   Bongaigaon-Malda at Purnea
 8.   Purnea-Dhalkhola
 9.   ULDC North-Eastern Region – already commissioned


 Stringing to be completed (CKM.) - 1369
Diversification

     into

 Distribution
POWERGRID Diversification …
                                                     87




Diversifying into Distribution
 MOP assigned 37 circles in 15 states to
  POWERGRID as advisor-cum-consultant under
  APDRP
 Also entrusted co-ordination of other 14 circles
  assigned to NPC, WAPCOS and ERDA & 54
  circles being developed by SEBs.
 Separate    Subsidiary         Companies   being
  contemplated for:
        Sub-transmission   system
        Distribution   system
POWERGRID Diversification …
Benefits to SEBs :
 Improvement in Reliability and Reduction
  in outages
 Increase in Revenue
     Remote   metering for HT consumers
     Average   billing for domestic consumers
      followed by six monthly reconciliation
     Increased   no. of collection centres
     Use   of IT for Energy accounting
     Enforcement    of stringent Anti-theft Laws
 POWERGRID Diversification …
POWERGRID’s Strategy is based on
 High growth potential in the business in line with
  the core competence.
 Commitment of Govts. for reforms with fund
  allocation under APDRP scheme.
 Association with SEBs as AcC in 33 circles in 16
  States under APDRP scheme.
 Leveraging its vast human resources and
  knowledge base
 Leveraging its rapport with GOI and SEBs
 Leveraging its strong Balance Sheet as comfort
  to lenders, who are shying away from SEBs
 Leveraging its IT enabled infrastructure for better
  management of distribution network
 Employees participation as equity stake holders
  to the extent of 26% in the Subsidiary Company
 POWERGRID Diversification …
 Reputed Domestic consultant appointed to
  formulate the business strategy
 Recommendations of the consultant :
    Separate subsidiaries for Sub-Transmission
     and Distribution business and strategic
     alliance with SEBs’
    Business Models for Transmission
       Build - and Transfer
       Build – Lease – Operate – and Transfer
       Contract – Add - and Operate
       Rehabilitate – Operate – and Transfer
    Business Models for Distribution
       Licensing Agreement with Tariff based on
        fixed rate of return
       Licensing Agreement with Performance
        based Tariff
       Energy Performance Contracting
POWERGRID Perspective                Plan…
Resource Mobilization


                        X Plan   XI Plan   Total
Internal Resources      2,938    5,081     8,019
Development Surcharge   1,1216   1,867     3,083
Bonds/Domestic Loans    8,002    14,917    22,919
Foreign Borrowings      8,214    6,393     14,607
IEBR                    20,370   28,258    48,628
Net Budgetary Support    1,000      0      1,000
Total                   21,370   28,258    49,628
POWERGRID Perspective                          Plan…
POWERGRID’s Investment                                 Rs/Crs
                                   X Plan   XI Plan   Total
A. Transmission                    19,130   27,999    47,129
   Generation Linked Projects       7,436     5,945   11,456
   Grid Strengthening Projects      3,192     5,420    3,192
   Inter-regional /Inter Country    7,199   14,615    29,159
   Links
   ULDC Projects                    1,016              1,016
   Investments in JV                  204               204
   Others                              83     2,019    2,102
B. Telecom                          2,240      260     2,500
   Base Network                     1,004              1,004
   Equity in NLDO                   1,236      260     1,496
Total (A+B)                        21,370   28,258    49,628
Investment and Funding Strategy

Future Funding

  Foreign Currency Debt
    Current Funding from World Bank, ADB,
    JBIC, European Investment Bank, KfW
    etc. to the tune of US $ 1,500 Million
    Presently outstanding loan from IFI is 50-
    55% of Total Borrowing
    Funding from Multilateral agency to go
    down due to their policy not to fund Gen.
    Linked projects.
    Future Funding envisaged at Rs. 9,400
    Crore (about 30% of funding gap)
Investment and Funding Strategy
Resource Mobilisation
 Internal Resource (IR)
   Past Trend – 1997-98 to 2002-03
      Investment : Rs 11,000 Cr
      IR : Rs 1580 Cr (14%) : Projects are being implemented
      with High Leverage pulling down the profit
   Reasons for Low IR
      No return on a portion of equity (Rs 603 Cr) – Aberration
      in previous tariff norms
      Tariff pegged @35 paise in NER – No return on asset
      worth about Rs 1000 Crore
      CERC disallows even O&M and Depreciation on grant
      High levels of Sundry Debtors
      Bullet Repayment in the Year 1998-99 and 2001-02 – Nil IR

   To minimise the future risk capital structure for
   projects need to be at least 70:30
Investment and Funding Strategy
Resource Mobilisation
 Internal Resource (IR)
    Future Projection – X Plan
       Investment : Rs 21,370 Cr
       IR : Rs 2938 Cr (14%)
       Planning commission has fixed the outlay with D:E ratio of 80:20
       adding Dev. Surcharge and NBS of Rs1000 Cr to IR
       Strings attached to Dev. Surcharge
    Therefore to maintain D:E ratio of 70:30:
       Investment may have to be scaled down OR
       Equity Support from GoI

    Future Projection – XI Plan
       Investment : Rs 28,258 Cr
       IR : Rs 5081 Cr (18%)

    If Securitisation Scheme operates in true letter and
    spirit, IR may go up to
       Rs 5,000 Cr( 24 % of Investment) in X Plan
       Rs 8,500 Cr (30 % of Investment) in XIPlan
Investment and Funding Strategy
Resource Mobilization
Development Surcharge
  CERC has not notified Dev. Surcharge
 in Project specific tariff notification -
 Rihand-Dadri Line
 Applicability of Depreciation
 Adversely affects the Financial ratios
 because of no RoE
 Applicability of Income Tax
                                  Contd.
Investment and Funding Strategy
Resource Mobilisation
Net Budgetary Support (NBS)

 Resource Mobilisation by POWERGRID
 for X Plan falls short in achieving a Debt:
 Equity ratio of 80:20

 NBS by Planning commission to bridge
 this gap is Rs1000 Cr

 NBS to flow as Equity instead of Grant
Investment and Funding Strategy
Resource Mobilization
  Domestic Bond/ Loan
   Future Funding envisaged as Rs. 22,000 Crs
   (about 70% of funding gap)
   During 2001-2002 fund mobilization from
   domestic markets was Rs. 2400 crs.
   Average annual fund raising : @ Rs 2200 Crs (
   to raise Rs. 22000 Crs in 10 years )
 Revenue From Telecom
   Higher growth in telecom to supplement
   transmission sector Income from NLDO
   business has been assumed to flow from 2007-
   08 onwards
   Assumed Revenue Rs 663 Cr in X Plan and Rs
   2078 Cr in XI Plan
Investment and Funding Strategy
Resource Mobilization
Net Budgetary Support (NBS)

 Resource mobilization by POWERGRID for
 X plan falls short in achieving a Debt :
 Equity ratio of 80:20
 NBS sanctioned by Planning Commision to
 bridge this gap is Rs. 1000 Crs
 No necessity of NBS during the XI plan

                                    Contd.
Investment and Funding Strategy
Resource Mobilization
International Financial Institutions
  Current Exposer from IFIs viz, World Bank,
  ADB, JBIC, EIB, WMB, KfW etc. to the tune
  of US $ 1,500 million.
  IFI funding is about 50-55% of Total
  Borrowing by POWERGRID
  Future funding commitment from IFI – Rs.
  6000 Crs
  World Bank has put conditionality in funding
  Generation Linked Projects
                                         Contd.
Investment and Funding Strategy
Resource Mobilization
Domestic Funding
   Future Funding from the Domestic Market envisaged
  at Rs. 22,000 Crs (about 70% of funding gap)
  During 2001-2002 fund mobilization from domestic
  markets was Rs. 2400 crs.
  Average annual fund raising @ Rs 2200 Crs to raise
  Rs. 22000 Crs in 10 years
Revenue From Telecom
  Higher growth in telecom business can be generated
  which will supplement transmission sector needs.
  Income from NLDO business has been assumed to
  flow from 2007-08 onwards
          DEVELOPMENT OF NATIONAL GRID


                                                        PHASE-I
                                                        (By 2002)



                         NR
                          AURAIYA                                                    NER
                                     500          500                             BONGAIGAON
                         MALANPUR    MW                 MW              BIRPARA
                                                              MALDA
                                                             SASARAM
                                             SAHUPURI
                                                         DEHRI
                                    VINDHYACHAL
                                          KORBA
                                                                 ER
                                                         BUDHIPADAR

                            CHANDRAPUR



                  WR                 1000
                                      MW
                                      BALIMELA
                                                       500
              KOLHAPUR                                 MW
                               U.SILERU
                                            GAZUWAKA

                                                                       EXISTING          UNDER
                     BELGAUM                                                             CONST.
                                                   EXISTING

                                                        400 kV

                                                        220 kV
                         SR
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                                                                                                   PHASE - II
                                     URI
                                           WAGOORA
                                                                                                   (By 2007)
                                                 DULHASTI

                              KISHENPUR          RAVI


                   JULLANDHAR

                               MOGA                              TEHRI                 CHICKEN NECK
              BALLABGARH                              A'PUR
              (DELHI RING)

                           HISSAR
                                                              MEERUT
                                                                                                                  BHUTAN
                                                                                                                  TALA      RANGANADI
                                                                          LUCKNOW                       TEESTA
                                            BHIWADI         M'BAD                   G'PUR                                                              KATHAL-
                 NR JAIPUR                               ALLAHABAD
                                                                                                                   BONGAIGAON                           GURI
                                                                                                                                                  MARIANI
                                                             /UNNAO                                 PURNEA
                 SHIROHI                                                                                                                   MISA
                                                      MALANPUR                       VARANASI
                                                                                                                  SILIGURI/BIRPARA
                                       300                   SINGRAULI
                                           0M
                                             W                               500MW
                                                                                        B'SHARIF
         ZERDA                                                                          /BARH    KAHALGAON
                    DEHGAM             NAGDA BINA         SATNA              VINDHYA-
                                                                             CHAL
                                                                                            N.K.           KRISHNA
                                                                                                                        NER
                          GANDHAR/                            SEONI SIPAT                                  NAGAR
          LIMBDI
                   AMRELI KAWAS
                              CHEGAON
                                                                                                     ROURKELA     BANGLA
     JETPUR
                           VAPI    BHANDARA
                                                                  KORBA
                                                                            RAIPUR
                                                                                                                   DESH
                                                                                             HIRMA
         PIPAVAV
                BOISAR
                                PADGHE                           CHANDRAPUR
                                                                 1000MW
                                                                                TALCHER
                                                                                      JEYPORE
                                                                                             ER
               DHABOL
                                       WR
                                    LONIKAND
                    KOYNA
                                    KARAD
                                                      RAMAGUNDAM
                                                                                    GAZUWAKA         LEGEND
              KOLHAPUR                           SR                                                                 EXISTING/         X PLAN
                                                                                                                    IX PLAN
                                                                          VIJAYAWADA
                                    NARENDRA
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                                                                                                   765 KV LINES
                                                          00
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                                                                   KRISHNAPATNAM
                                                                                                   HVDC B/B
                                                              CHITTOOR                             HVDC BIPOLE
                   MANGALORE
                                                      HOSUR       SOUTH CHENNAI
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                                                                                                    PHASE - III
                                      URI
                                            WAGOORA
                                                                                                    (By 2012)
                                                  DULHASTI

                               KISHENPUR         RAVI SATLUJ


                    JULLANDHAR

                                MOGA                              TEHRI                 CHICKEN NECK
              BALLABGARH                               A'PUR
              (DELHI RING)

                            HISSAR
                                                               MEERUT
                                                                                                                   BHUTAN                         DIHANG DAMWE
                                                                                                                   TALA      RANGANADI
                                                                           LUCKNOW      ARUN             TEESTA
                                             BHIWADI     M'BAD                       G'PUR                                                                KATHAL-
                  NR JAIPUR                      AGRA ALLAHABAD
                                                                                                                    BONGAIGAON                             GURI
                                                                                                                                                     MARIANI
                                                          /UNNAO                                     PURNEA
                  SHIROHI                                                                                                                     MISA
                                                       MALANPUR                       VARANASI
                                                                                                                   SILIGURI/BIRPARA
                                        300                   SINGRAULI                                                                     BADARPUR
                                           0M
                                             W                                500MW                                                               TIPAIMUKH
                                                                                         B'SHARIF
          ZERDA                                                                          /BARH    KAHALGAON
                     DEHGAM             NAGDA BINA         SATNA              VINDHYA-
                                                                              CHAL
                                                                                             N.K.           KRISHNA
                                                                                                                         NER
                           GANDHAR/                            SEONI SIPAT                                  NAGAR
           LIMBDI
                    AMRELI KAWAS
                               CHEGAON
                                                                                                      ROURKELA     BANGLA
     JETPUR
                            VAPI    BHANDARA
                                                                   KORBA
                                                                             RAIPUR
                                                                                                                    DESH
                                                                                              HIRMA
          PIPAVAV            TARAPUR AKOLA
                 BOISAR
                                 PADGHE        AMRAVATI           CHANDRAPUR
                                                                  1000MW
                                                                                 TALCHER
                                                                                       JEYPORE
                                                                                              ER
               DHABOL
                                        WR
                                     LONIKAND                          00
                                                                         MW
                                                                     20
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              KOLHAPUR                           SR                                                                  EXISTING/            X PLAN        XI PLAN
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                                                               CHITTOOR                             HVDC BIPOLE
                    MANGALORE
                                                       HOSUR       SOUTH CHENNAI
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                                                                    SINGARPET
                         KOZHIKODE
                                                                  CUDDALORE
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